The EU is negotiating with China to lift the sanctions against German Sindlhauser Materials, an important supplier to ASML, Bloomberg News reports, citing sources.
In exchange, the EU may drop restrictions against a Chinese company accused of supporting Russia’s war in Ukraine.
Sindlhauser, which is heavily dependent on Chinese rare earth metals, risks bankruptcy within a few months if the sanctions remain in place. According to the reports, the EU is expected to take the first step in the deal.
